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Business of Private Credit: Coming Home
Much attention has been paid to the suitability of Matt Damon in the lead role as the wily Odysseus in this summer’s Christopher Nolan blockbuster.
CLOs: A Vehicle Inspection Report
“Anytime loan market technicals shift, there’s always a view that CLOs are the end of Western civilization as we know…
Secondary market levels continue to trend higher
Prior to the pandemic, the average bid on the North America Overall-Market cohort of loans was in the 97.5 context,…
Quantifying style drift
An upcoming PitchBook analyst note takes a look at GP style drift. It’s an important topic but a frustrating one…
Distribution of Synergies & Cost Savings EBITDA Addback Time Horizons (for Actions Resulting in Addbacks)
(Past performance is no guarantee of future results.) Contact: Steven Miller
Special Report: SPACs – A Primer
Beginning in November 2020 The Lead Left published a series of articles on special purpose acquisition companies (SPACs). This report consolidates those articles.
Triple A Service
CLO liability spreads for the most creditworthy tranches have fallen below pre-Covid levels.
Private Debt Intelligence - 3/29/2021
Private Debt Assets under Management by Geographic Focus, 2000 – 2020 [wpdm_package id=’44001′] While funds focusing on North America constitute…
Loan Stats at a Glance - 3/29/2021
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
A good word for private equity
Download PitchBook’s Report here. A quick break this week from the usual hard numbers and trendlines. PitchBook is working with the…
Twenty is the new 50; Cov-lite invasion continues into direct lending
It’s no exaggeration that covenant-lite is invading direct lending. Market participants across the board say today’s cutoff is $20 million…
BDC NAV per share records 2% quarter-over-quarter growth in 4Q20
Most BDCs have now filed 4Q20 financials and according to data compiled from Refinitiv’s BDC Collateral, BDC NAV per share…
Fran, Dan, and Ran Show (Part II): Capital Markets 2021 - COVID Impact and Outlook
Private Credit: views from investors/LP, the opportunities, new entrants, and lessons learned from the pandemic. Churchill’s Co-Head of Senior Lending…








CLOs Revisited – Ratings, Risks, and Returns (Second of a Series)
“The world has put all its Covid eggs into the vaccine basket. There is no Plan B.” – CLO manager.…